Favorite Schools

Favorite Teams

Philadelphia 76ers CEO: Camden practice facility will be 'biggest and best' in U.S.

Sixers.jpg

Officials from Camden and the Philadelphia 76res announced a new practice facility and office building for the team at the city's waterfront, following the Economic Developement Authority's approval of $82 million in tax breaks over the next 10 years for the organization, on Tuesday, June 10, 2014. From left to right: EDA President and COO Tim Lizura, Camden Council President Frank Moran, Mayor Dana Redd and 76ers CEO Scott O'Neil. (Staff photo by Jason Laday/South Jersey Times)

A requirement of receiving the full tax credit, to be paid out in annual installments of $8.2 million and used against state corporate business taxes, is the creation of at least 250 jobs at the site, not including construction jobs.

However, 200 of those jobs represent current team employees, including players and coaches, all of whom will be transferred from the Sixers' current front office, according to team CEO Scott O'Neil. The team will hire 50 new employees — mostly in sales and marketing — during its transition into its new offices in Camden, which will be located near the Susquehanna Bank Center at the corner of Delaware Avenue and Martin Luther King Boulevard.

"We need a 24/7 operation that's ours," said O'Neil, adding that state tax breaks, as well as the "size and scope" of the soon-to-be 120,000-square-foot facility, was what finally lured the team across the Delaware River.

"This will be the biggest and best training facility in the country," he said.

According to NJ EDA President and COO Tim Lizura, the state and the City of Camden will benefit from approximately $76.6 million in "direct and indirect taxes" over the next 35 years. He said that figure comes from a formula taking into account "ancillary economic effects" of the relocation, including possible retail and restaurant space that may open around the area.

Camden Mayor Dana Redd, joined by Council President Frank Moran, lauded the announcement as a win for the city. They stated the relocation of the team to Camden would create a "spill-over effect," for small businesses in the area.

Addressing the large tax break given to the team as part of the agreement, the mayor said the city and state must make such deals in order to attract businesses to open up shop in Camden.

"Camden needs to be able to afford these deals, because we need to be able to compete in this region," said Redd. "This is only the beginning — just the tip of the iceberg."

Speaking before the move was finalized, Gov. Chris Christie during a press conference in Camden on Thursday said the deal would be "a good thing for New Jersey."

"Not only from the tax revenues, but also for the image of Camden," said Christie. "I hope it gets approved."

EDA officials said the new facility will be located at the southeast corner of MLK Boulevard and Delaware Avenue, which is currently a parking lot owned by the Parking Authority of the City of Camden (PACC). The team will invest $82 million in the construction project.

Officials said they hope to break ground in October, and have the team ready to move in come June 2016.

The 76ers currently practice at the Philadelphia College of Osteopathic Medicine. The team maintains temporary offices at the Philadelphia Navy Yard.

According to Lizura, the team had toured several potential locations, including the Navy Yard.